Van ECK Associates Corp Purchases 43,804 Shares of International Business Machines Co. (NYSE:IBM)

Van ECK Associates Corp increased its position in International Business Machines Co. (NYSE:IBM) by 28.1% during the third quarter, Holdings Channel.com reports. The firm owned 199,960 shares of the technology company’s stock after buying an additional 43,804 shares during the quarter. Van ECK Associates Corp’s holdings in International Business Machines were worth $46,541,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of IBM. Vanguard Group Inc. grew its holdings in shares of International Business Machines by 6.7% during the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after buying an additional 5,546,855 shares during the last quarter. Legal & General Group Plc boosted its stake in International Business Machines by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock valued at $1,467,974,000 after purchasing an additional 330,694 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in International Business Machines by 6.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock worth $1,274,074,000 after purchasing an additional 444,698 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of International Business Machines by 6.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock worth $829,431,000 after purchasing an additional 304,390 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of International Business Machines by 151.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after buying an additional 2,118,165 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Up 0.7 %

Shares of International Business Machines stock opened at $208.25 on Monday. The stock has a market capitalization of $192.56 billion, a P/E ratio of 30.31, a P/E/G ratio of 4.64 and a beta of 0.71. International Business Machines Co. has a 52-week low of $144.84 and a 52-week high of $237.37. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The stock’s 50-day simple moving average is $216.84 and its 200 day simple moving average is $191.35.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.03. The company had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.20 earnings per share. As a group, research analysts anticipate that International Business Machines Co. will post 10.11 EPS for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s payout ratio is currently 97.23%.

Analyst Ratings Changes

IBM has been the subject of a number of analyst reports. Hsbc Global Res raised International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Bank of America increased their target price on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Morgan Stanley reduced their price objective on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Stifel Nicolaus lifted their target price on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a report on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $208.12.

International Business Machines Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.